DREAMLINER TAKE WINGS: Putting to rest all questions about its safety and stability of the aircraft, Boeing’s 787 Dreamliner registered its 1,000 customer order in November 2013, with Etihad Airways announcing an order for 30 787-10 Dreamliners valued at $8.7 billion. On December 16, 2013 Boeing said that its Board of Directors approved a $10 billion increase in its stock buyback program adding that it will also raise its quarterly dividend payment by about 50 per cent. Chairman and CEO Jim McNerney said the moves reflect its operational performance, increasing cash flow and confidence in the future. In this Dec. 19, 2013 photo, workers assemble Boeing 787 Dreamliners in the company's massive assembly plant in North Charleston, South Carolina. Photo: AP
US SHUTDOWN ENDS: S&P noted that the deal reached tentatively on October 16, only funds the government through January 15. But, in a not-often-seen show of bipartisan spirit Congressional Democrats and Republicans came together on December 10, 2013, to announce an $85 billion “compromise” budget deal that could potentially avert another government shutdown, on January 15. While it may not herald the start of a new era of bipartisan cooperation, a compromise of this scale has been absent for the best part of the previous 30 years, it was observed. Photo shows House Budget Committee Chairman Paul Ryan (Left) and Senate Budget Committee Chairwoman Patty Murray, announcing the tentative agreement at the Capitol in Washington. Photo: AP
FED TAPERS: However, the U.S. Federal Reserve, on December 18, announced that it would reduce the monthly bond purchases to $75 billion from the existing level of $85 billion from January, 2014. Mr. Bernanke suggested that the purchases could end by late next year. President Barack Obama, on October 9, 2013, nominated Dr. Janet Yellen to succeed Mr. Bernanke (whose term ends on Jan. 31, 2014) as Head of Federal Reserve. Ms. Yellen, known for her sound judgement, passed the Senate panel vote on November 21, 2013, and will be the first woman to lead the Federal Reserve after being approved by the U.S. Senate. A combo photo of Ben Bernanke and President Barack Obama with his nominee for the next Federal Reserve chair, Janet Yellen. Photo: AP
VIRTUAL CURRENCY: Bitcoin, an all-digital, cryptographically-made currency with “deep structure, wide adoption and trading momentum” (Nat-Geo), isn't going anywhere. Called Money-3.0, the nextgen currency, it is “mined” by computers through solving complicated mathematical problems on the bitcoin network. Each solution is verified by other network nodes and the first best solution is traded using a wallet software. The work fixes the value of the coin. The difficulty of the puzzles is adjusted to ensure a steady stream of bitcoins. Transactions are recorded in “blockchain”, a massive block of code stored across a peer-to-peer network of computers. This system is supposed to prevent fraud and counterfeiting, and keep the exchange fee low. Miners, speculators, consumers, merchants and exchanges make up the eco-system. Where credit-card or PayPal does not exist, bitcoin makes digital payment possible. Photo shows bitcoin tokens in Sandy, Utah. Photo: AP
